Belo Sun Mining
TSX VENTURE : BSX

Belo Sun Mining

November 28, 2011 17:02 ET

Belo Sun Expands High Grade Mineralization Down Dip and Along Strike at the Ouro Verde Deposit

- Hole VVGD-238 intersected multiple mineralized zones including 11.50 meters grading 3.79 g/t Au (from 153.50 m depth) and 16.70 meters grading 3.39 g/t Au (from 275.00 m depth) including 8.10 meters grading 6.29 g/t Au extending the zone 100 meters beyond the current resource model (April, 2011).

- Hole VVGD-154 located 150 meters from the edge of the resources modeled of April, 2011 intersected multiple mineralized zones including 3.44 meters grading 81.61 g/t Au (from 38.75 m depth).

- Significant down dip intercepts occur in drill hole VVGD-153 with 34.84 meters grading 2.29 g/t Au (from 251.21 m depth) including 10.40 meters grading 6.33 g/t Au; VVGD-187 (Ouro Verde Cross Section 550 NW) with 26.90 meters grading 5.48 g/t Au (from 292.55 m depth) including 12.90 meters grading 10.22 g/t Au.

TORONTO, ONTARIO--(Marketwire - Nov. 28, 2011) - Belo Sun Mining Corp. (TSX VENTURE:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from 23 additional drill holes from the diamond drilling program at its Volta Grande Gold Project located in Para State, Brazil. The complete results and cross sections are presented below. These results include assays from nine drill holes from the Ouro Verde deposit, 13 drill holes from the Grota Seca deposit and one from the South Block.

  • At the Ouro Verde deposit, holes VVGD-153 and VVGD-187 which were part of the infill drilling program to upgrade the existing mineral resources intersected multiple mineralized zones, have extended the mineralization approximately 100 meters down dip and demonstrate the continuity of mineralization in that direction.

  • At the Grota Seca deposit, hole VVGD-165 (Grota Seca Cross Section 725 W) from the infill drilling program intersected high grade mineralization along strike from the Galo garimpo (a 300 meters deep shaft used by artisanal miners). The intercept totaled 17.70 meters grading 4.31 g/t Au (from 188.35 m depth) including 6.53 meters grading 9.61 g/t Au. This hole is located approximately 275m southeast from the shaft.

  • Over the last three months, 32,000 meters of drilling has been completed at the Volta Grande project with a Project record drilling production of 11,208 meters in October. Eleven drill rigs are still in operation at site. With the recent completion of the infill drilling program, all are now directed toward expanding the estimated mineral resources. A new resource estimate is planned to be completed by year-end and a full report will be issued and filed on SEDAR.

Helio Diniz, the Vice President, Exploration for Belo Sun, stated, "We are excited with the expansion of mineral resources that we are seeing at the Ouro Verde deposit. At present we are drilling at section 950 NW which is approximately 100 meters along strike from the previously reported drilling and mineralized zones and believe we have intersected visible gold. The existing deposit continues to be extended along strike and down dip and Belo Sun is now tendering a new diamond drilling contract for a further 36,000 meters of drilling to be completed in the first half of 2012."

A complete summary of assays are listed below. To date, Belo Sun has completed 287 drill holes at the Volta Grande Gold Project, of which assays remain pending for 47 holes from the northern block. Further results will be released as they become available.

The geological map of the Volta Grande Gold Project, with diagrams setting out the main deposit locations, is included below.

TABLE 1 - DIAMOND DRILLING ASSAY RESULTS
The widths reported below represent the core width of the intercepts; true widths are expected to range between 85-95% of the core width.
NR 11/28/2011
Grota Seca target
Hole # From (m) To (m) Width (m) Au g/t
VVGD-152 126.20 132.70 6.50 1.01
and 138.00 141.20 3.20 0.80
VVGD-155 0.00 16.00 16.00 1.59
including 0.00 8.70 8.70 2.68
and 38.15 50.00 11.85 1.25
and 71.00 79.50 8.50 2.09
and 102.00 112.00 10.00 0.95
and 129.63 143.40 13.77 1.35
VVGD-157 22.00 26.00 4.00 2.25
and 37.00 40.00 3.00 1.04
and 55.00 60.00 5.00 1.51
and 135.00 138.50 3.50 0.63
and 156.70 167.58 10.88 0.58
and 193.00 199.00 6.00 0.76
and 206.00 220.70 14.70 0.64
and 226.00 230.00 4.00 0.81
VVGD-158 0.00 11.55 11.55 0.67
VVGD-160 1.00 24.00 23.00 0.73
and 34.00 39.00 5.00 1.95
and 53.00 57.00 4.00 1.67
VVGD-162 11.00 16.30 5.30 0.57
and 29.00 43.00 14.00 0.69
and 91.00 94.00 3.00 0.79
and 122.40 134.60 12.20 0.72
and 166.70 179.00 12.30 1.45
including 174.00 179.00 5.00 2.70
and 260.00 266.40 6.40 0.50
and 282.00 287.60 5.60 0.51
VVGD-164 157.15 162.25 5.10 0.73
and 175.80 218.00 42.20 0.77
including 185.60 197.35 11.75 1.17
and 232.00 247.00 15.00 0.77
VVGD-165 21.85 30.40 8.55 2.59
and 76.08 79.30 3.22 2.37
and 100.75 106.00 5.25 1.76
and 117.30 129.70 12.40 0.93
including 122.10 126.50 4.40 1.91
and 138.50 142.00 3.50 1.50
and 188.35 206.05 17.70 4.31
including 199.52 206.05 6.53 9.61
and 211.80 225.00 13.20 2.26
VVGD-166 53.65 64.90 11.25 0.80
VVGD-168 5.00 10.35 5.35 0.85
and 15.00 19.00 4.00 0.51
and 33.40 40.10 6.70 1.13
and 113.68 126.76 13.08 0.93
including 120.70 126.76 6.06 1.47
and 151.90 156.00 4.10 1.23
and 203.98 237.90 33.92 1.28
including 232.70 236.22 3.52 5.64
VVGD-170 NSR
VVGD-173 57.38 93.00 35.62 0.79
including 57.38 62.00 4.62 1.30
and 131.00 136.50 5.50 0.77
and 174.00 177.80 3.80 0.81
and 210.00 222.80 12.80 1.06
VVGD-179 2.15 7.00 4.85 0.98
and 13.00 18.49 5.49 0.63
and 26.00 32.00 6.00 0.92
and 52.00 56.00 4.00 0.63
and 83.00 103.70 20.70 0.54
and 109.00 113.35 4.35 0.57
and 121.00 130.00 9.00 0.55
and 160.60 171.30 10.70 1.09
including 160.60 164.00 3.40 2.29
Ouro Verde target
Hole # From (m) To (m) Width (m) Au g/t
VVGD-153 43.55 49.30 5.75 1.36
and 84.47 89.10 4.63 0.49
and 137.67 145.10 7.43 0.96
and 169.00 172.57 3.57 0.68
and 184.10 187.97 3.87 1.41
and 251.21 286.05 34.84 2.29
including 273.35 283.75 10.40 6.33
and 307.10 324.85 17.75 1.29
including 310.85 319.85 9.00 2.16
and 339.02 345.00 5.98 1.24
and 378.20 394.47 16.27 0.75
VVGD-154 27.00 30.14 3.14 0.53
and 38.75 42.19 3.44 81.61
and 104.10 112.00 7.90 2.00
and 131.25 136.25 5.00 0.99
and 165.62 172.35 6.73 0.52
VVGD-156 84.57 109.50 24.93 0.65
and 174.45 177.72 3.27 3.43
and 263.45 268.51 5.06 0.59
and 279.00 309.07 30.07 0.58
and 321.86 332.95 11.09 0.91
VVGD-161 45.00 48.00 3.00 0.55
and 94.15 98.20 4.05 1.05
and 143.45 148.40 4.95 0.72
and 153.83 163.00 9.17 0.66
and 186.00 191.00 5.00 3.71
and 238.75 248.58 9.83 1.33
and 294.91 299.70 4.79 2.93
VVGD-182 51.10 54.60 3.50 0.66
and 100.83 134.72 33.89 0.97
including 100.83 108.50 7.67 2.10
VVGD-187 134.30 140.30 6.00 1.26
and 149.25 155.25 6.00 1.31
and 200.45 209.50 9.05 2.41
including 206.00 209.50 3.50 5.08
and 292.55 319.45 26.90 5.48
including 299.20 312.10 12.90 10.22
and 326.00 337.00 11.00 0.64
and 343.75 348.25 4.50 2.18
and 360.70 369.95 9.25 1.62
and 431.20 442.50 11.30 0.71
VVGD-228 6.00 11.00 5.00 2.01
and 18.40 29.00 10.60 3.33
including 20.45 25.60 5.15 6.47
and 98.80 106.70 7.90 1.24
and 115.15 119.60 4.45 0.52
VVGD-230 88.70 92.45 3.75 1.43
and 161.20 164.75 3.55 1.63
and 179.60 197.60 18.00 0.91
and 212.30 221.39 9.09 0.98
and 237.25 280.50 43.25 1.66
including 246.50 254.00 7.50 4.92
and 307.50 313.30 5.80 0.52
and 322.20 326.20 4.00 0.59
and 338.00 343.00 5.00 0.58
VVGD-238 0.00 3.30 3.30 0.52
and 103.00 119.00 16.00 1.14
and 126.45 135.00 8.55 0.71
and 153.50 165.00 11.50 3.79
and 174.00 196.80 22.80 1.21
including 176.50 183.30 6.80 1.89
and 202.15 217.00 14.85 1.50
including 202.15 207.70 5.55 3.21
and 275.00 291.70 16.70 3.39
including 276.60 284.70 8.10 6.29
South Block
Hole # From (m) To (m) Width (m) Au g/t
VVGD-171 NSR

Quality Assurance and Quality Control

The scientific and technical information in this press release has been reviewed and approved by David Gower, P. Geo., an advisor to Belo Sun and a Qualified Person as defined by National Instrument 43-101. The exploration program is directly supervised by Mr. Carlos Cravo, P. Geo., Belo Sun's exploration manager. Belo Sun's procedures for handling drill core comprise initial description and logging into a Microsoft Access database. Mineralized, suspected mineralized or not intervals in the drill holes are described in detail and marked for sampling. Core is then cut in half with the right-hand portion of the core put into plastic sample bags and sealed. The left-hand portion is returned to the core box and is stored for future reference or study. Assay standard and "Blank" samples are inserted every 20th sample. These samples are then delivered to ACME Labs sample preparation facility at the Project site. The assay samples are then fine-crushed to better than 85% passing 10 mesh screens, with an assay pulp split of up to 1000 grams pulverized to better than 85% passing 200 mesh screen. Samples are assayed at ACME Labs in Santiago, Chile, using a 50 gram fire assay with AAS finish. These QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample.

About the Company

Belo Sun Mining Corp. is a Canadian-based mineral exploration company with a portfolio of properties focused on gold in Brazil. Belo Sun's primary focus is on advancing and expanding its 100% owned Volta Grande Gold Project, located in Para State. Belo Sun trades on the TSX Venture Exchange under the symbol "BSX". For more information about Belo Sun please visit www.belosun.com.

Cautionary Statement on Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward- looking information includes, without limitation, statements regarding the impact of these drill results on the Company and its understanding of the project; statements with respect to the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; costs of future activities; capital and operating expenditures; success of exploration activities; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.belosun.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the figures associated with this press release, please visit the following link: http://file.marketwire.com/release/1128bsx.pdf.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Belo Sun Mining Corp.
    Mark Eaton
    President and CEO
    (416) 309-2137